Kazakhstan Chamber of Commerce in the USA

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Kazakhstan Daily News Roundup – August 26, 2011 0

Posted on August 27, 2011 by Alex

ENERGY:

LG Chem to build $4-billion petrochemical plant in Kazakhstan
(SRI) – LG Chem, South Korea’s largest chemical company, signed a $4-billion deal on Thursday to develop a long-planned petrochemical complex in Kazakhstan, the company said in a statement.

Kazakhstan, Korea agree on guarantees for the Balkhash power plant project
(SRI) – Kazakhstan and South Korea signed an “intergovernmental agreement” on Thursday guaranteeing Korean companies a 70% stake in a $4.5-billion project to develop and finance the construction of a coal-fired power plant in the city of Balkhash.

Kazakhmys sells oil unit for $100 million (SRI)

KazMunaiGas, Korean oil consortium sign agreement on drilling rig (SRI)

BUSINESS AND ECONOMY:

Development Bank of Kazakhstan loses $61 million in first half (SRI)

Indicators – August 25, 2011 (Reuters)

METALS AND MINING:

Kazakhmys to buy back $250 million of shares listed in London
(SRI) – Kazakhstan’s Kazakhmys, a London-listed copper miner, said on Thursday its first-half profit before tax declined to $550 million from $631 million in the previous year and announced a share buyback worth up to $250 million.

Kazakhmys approves Bozshakol development project
(SRI) – Kazakhstan’s largest miner Kazakhmys has approved a $1.8-billion development of the Bozshakol deposit, a major copper growth project equivalent to a third of Kazakhmys’ current output, the miner said as it presented its first-half earnings.

Glencore to consider options for gold assets in 2012 (SRI)

Kazzinc accumulates copper concentrate stockpile worth $127 million (SRI)

Kazakhmys welcomes central bank’s decision to buy Kazakh gold (SRI)

REGIONAL:

PetroChina in Dushanzi refinery overhaul – sources (Reuters)

Russian spaceship crashes back to Earth (AFP)

SOURCE: http://silkroadintelligencer.com/2011/08/26/

 

Kazakhstan Daily News Roundup – July 28, 2011 0

Posted on July 27, 2011 by KazCham

HEADLINES:

Under-mined in Central Asia
(bne) – Central Asia’s mineral resources remain under-developed given the region’s potential. And outside of Kazakhstan and Mongolia, international investment into exploration is minimal.

Karachaganak conflict to be resolved by end-2011 – BG Group executive
(SRI) – UK-based BG Group, a partner in the Western-led consortium developing the Karachaganak gas condensate field, is confident the venture will achieve resolution in a long-running dispute with the Kazakh government before the end of the year.

KMG EP cuts production forecast by 6% due to strikes
(SRI) – KazMunaiGas Exploration Production (KMG EP), the upstream subsidiary of the national oil and gas company, said the prolonged strike at the Uzenmunaigas production facility will cause the company’s total 2011 output to decrease by at least 6% compared to last year.

ENERGY:

Korean consortium begins construction of Zhambyl drilling rig (SRI)

Oil and Gas Ministry raises retail prices for gasoline (SRI)

BUSINESS AND ECONOMY:

Alliance appeals “excessively mild” sentencing of former owner, executives (SRI)

Eurasian Bank to list KZT3-billion bonds on KASE on July 28 (SRI)

Kazakhstan worried about competition from Russian and Ukrainian grain markets – Ministry of Agriculture (AgriMarket.Info)

Indicators – July 27, 2011 (Reuters)

METALS AND MINING:

KazakhGold completes reverse takeover of Polyus, changes name (SRI)

REGIONAL:

PetroChina further delays Dushanzi refinery maintenance -source (Reuters)

SOURCE: http://silkroadintelligencer.com/2011/07/28/kazakhstan-daily-news-roundup-july-28-2011/

 



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